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It really depends on what you're looking for. I know some coworkers who took full rides or significant scholarships to a top 25-ish local program that is highly regarded in the area. I know some who declined such offers (even full rides) to attend a top 10 school.
Scholarships only offer an up-front monetary advantage. Some may come from programs that have a network attached to it, but generally those networks are not as good as the network you're getting from the MBA.
For me, I turned down a large scholarship from a highly regarded local program for a top 10 school. My reasons fall in line generally that I am not earning any income for 2 years and that the opportunity cost of getting my MBA far outweighs the scholarship money that was given to me. But each person has their own reasons to attend a school for free or to take out loans for a more reputable program, it's all up to you.
Thanks for the input. I was fortunate enough to come out of UG with a decent amount of money in my pocket, so despite the significant costs of a top 10, I wouldn't be forced to take on a tremendous amount of debt. I guess this will ultimately be a pretty strong consideration in my decision making. A number of schools that have contacted me are also regional, and although admissions is adamant about their national placement, I'll definitely have to do some more research on the subject.
If you don't mind me asking, where did you decline, and where did you end up (comparable group is more than sufficient)?
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